Download Free Excel Mortgage Calculator Spreadsheet

This spreadsheet helps you analyse and understand mortgages. It calculates and compares various scenarios to show the effect of different variables on the mortgage, payments and cost of borrowing. It allows mortgage seekers to make an informed decision before signing a deal. Those with an existing mortgage can see how interest rate changes affect their monthly payments and how much it costs to end their mortgage early.

Features

shows the effect of interest rate changes on payments and cost of borrowing

reveals the cost of ending a mortgage early while early repayment penalties apply

reveals the cost of a mortgage over any period - even if it contains many variables

compares mortgages on a like with like basis revealing the best value-for-money deal

compares five scenarios side by side showing the effect of different variables at a glance

Components

The spreadsheet is divided into four components:

Component

Purpose

Financial Summary

Summarise your finances and bring them together in one place

Affordability Calculator

Find out how much you can borrow for a given term and monthly payment

Payment Calculator

Calculate monthly payments and the cost of borrowing for a given mortgage

Deal Comparator

Compare mortgage deals and calculate their true cost over any period of time

The Payment Calculator and Deal Comparator work with repayment as well as interest-only mortgages. Both calculators and the comparator are designed for mortgages where interest is compounded monthly and payments are made at the end of the month. Results are only accurate for mortgages where this is the case.

If you get different figures from your bank or another calculator, check the compounding and payment frequency of your mortgage and how interest was calculated. If compounding and payment frequency are not monthly, you will get a slightly inaccurate result from this calculator. However, it may still be useful by giving you an approximate figure.

Images

Click on a thumbnail to show a bigger image:

Financial Summary

Affordability Calculator

Payment Calculator

Deal Comparator

Download

The mortgage calculator was developed by Roger Hautle, the principal behind this web site; it's free for personal & commercial use and has been downloaded more than 50,000 times. The spreadsheet is easy to use and navigate, and there are plenty of comments explaining terminology in a simple way. I hope you find it useful and wish you all the best in finding a suitable mortgage.

The latest version is 4.0b (4 Mar 2017). It works with Microsoft Excel 2007 and later releases.

To save a calculator to your computer right-click a link and choose "Save Link/Target As...":

“I'm helping my son to sort out a remortgage and your Mortgage Calculator and Comparator is a terrific piece of software as it takes a lot of the pain out of me finding the best deal for him.”

Ray from Surrey, UK

“I have used your mortgage calculator to compare five different mortgage alternatives and have saved thousands of dollars. The mortgage brokers here, and probably elsewhere, have a bad habit of confusing terminology, amounts allocated to fees, add-ons, etc, making it very difficult to compare like to like. Your spreadsheet and explanations of terminology allows the consumer to cut through the intentional confusion to make the best financial decision. Thank you!”